Installed Building Products acquires Therm-Con
Installed Building Products Installed Building Products has announced that it has acquired Therm-Con, LLC and Foamtech, Inc.
Founded in 2005 and collectively known as Therm-Con, the company primarily serves the Tennessee market, as well as the Georgia and Alabama markets through a branch location in Chattanooga, Tenn. The company provides insulation, fireplace, shower doors, closet shelving, and mirror installation services primarily for residential customers.
Edwards also noted that Installed Building Products has added about $30 million in annual revenues through acquisitions this year, primarily consisting of insulation installers.
“Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets,” he said.
Earlier this month, Installed Building Products reported company record second quarter sales of $371.8 million, up 11.8% from revenue of $332.6 million in the second quarter 2018. The Columbus, Ohio-based building services provider also reported a record second quarter net income of $18.9 million, up 16% from a net income of $16.3 million for the same period last year.
IBP operates more than 175 branches and offers new residential insulation installation along with complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors.
Founded in 2005 and collectively known as Therm-Con, the company primarily serves the Tennessee market, as well as the Georgia and Alabama markets through a branch location in Chattanooga, Tenn. The company provides insulation, fireplace, shower doors, closet shelving, and mirror installation services primarily for residential customers.
“With trailing twelve-month revenue of $4.7 million, Therm-Con enhances our presence in attractive markets throughout Tennessee and its surrounding states,” said Jeff Edwards, chairman and CEO.
Edwards also noted that Installed Building Products has added about $30 million in annual revenues through acquisitions this year, primarily consisting of insulation installers.
“Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets,” he said.
Earlier this month, Installed Building Products reported company record second quarter sales of $371.8 million, up 11.8% from revenue of $332.6 million in the second quarter 2018. The Columbus, Ohio-based building services provider also reported a record second quarter net income of $18.9 million, up 16% from a net income of $16.3 million for the same period last year.
IBP operates more than 175 branches and offers new residential insulation installation along with complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors.